March 4, 1933:The Only Thing to Fear…

Today is the day, 76 years ago, that President-elect Franklin Delano Roosevelt gave his first Inaugural Address. It’s the one most of us are familiar with because of his famous, “The only thing we have to fear is fear itself ” line.

If you’ve got a few minutes, click on one of the two Web site addresses listed at the end of this blog entry to either listen to, or read, Roosevelt’s speech in full.

I’m suggesting this only because his speech is timeless in many ways. For instance, that fear thing. Fear is one of those emotional responses that make us do all sorts of goofy things. Like not think clearly. Or move into a fight-or-flight mode. Or sweat, literally. Or become paranoid, mistrust those we ought not and worry way too much.

While there is definitely no shortage of things to trigger any fear response these days—particularly when it comes to the economy, our country’s future and our own personal finances—when our fears become paralyzing it’s time to look them in face and come up with some plans. And if Plan A isn’t working, create a Plan B, C, or D.

Yes, it takes time and work to overcome our financial fears but it’s definitely doable. In addressing my financial fears, I found the following two excerpts from President Roosevelt’s speech both timely and inspiring. Perhaps you will too.

The first: “Happiness lies not in the mere possession of money; it lies in the joy of achievement, in the thrill of creative effort. The joy and moral stimulation of work no longer must be forgotten in the mad chase of evanescent profits. These dark days will be worth all they cost us if they teach us that our true destiny is not to be ministered unto but to minister to ourselves and to our fellow men….”

And this one: “This great Nation will endure as it has endured, will revive and will prosper. So, first of all, let me assert my firm belief that the only thing we have to fear is fear itself—nameless, unreasoning, unjustified terror, which paralyzes needed efforts to convert retreat into advance. In every dark hour of our national life a leadership of frankness and vigor has met with that understanding and support of the people themselves which is essential to victory…”

About the Author

Dian Vujovich is an award winning freelance writer, author, website publisher and financial educator in West Palm Beach. Just as there are no limits to what money can and cannot do for us, subjects covered in her blog include everything from investing ideas, commentary, philanthropy, behavioral finance, market performance and luxury spending. She is also is a luxury travel photojournalist.